Mahindra Manulife Large Cap Fund
The fund maintains a defensive, quality-focused stance with banking stocks comprising over a quarter of the portfolio, anchored by ICICI and HDFC Bank. The manager has rotated out of weak auto plays like Hyundai to add fresh exposure in domestic cyclicals and financial services, signaling cautious optimism on discretionary recovery while preserving core blue-chip positions. The modest 3% cash cushion and concentrated top-10 holdings (48%) underscore a conviction-driven strategy betting on India's established consumption and financial sector leaders.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|
| Direct Growth | ₹24.5053 | — | — | — | — |
| Regular Growth | ₹21.5504 | -2.60% | -6.52% | +10.72% | +10.23% |
| Direct IDCW | ₹17.0725 | — | — | — | — |
| Regular IDCW | ₹14.3752 | — | — | — | — |
Portfolio Metrics(latest month)
vs Category Peers
Balanced ApproachActive Share = ½Σ|wfund − wpeer|, computed using leave-one-out peer portfolio within SEBI category.
Similar Funds in Category
What Changed2026-03-31 → 2026-04-30
| Stock | Weight |
|---|---|
| Eicher Motors Limited | 1.01% |
| Tata Motors Passenger Vehicles Limited | 0.97% |
| HDB Financial Services Limited | 0.94% |
| InterGlobe Aviation Limited | 0.92% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | ICICI Bank Limited INE090A01021 | 9.02% |
| 2 | HDFC Bank Limited INE040A01034 | 7.93% |
| 3 | Reliance Industries Limited INE002A01018 | 5.53% |
| 4 | Bharti Airtel Limited INE397D01024 | 5.17% |
| 5 | Infosys Limited INE009A01021 | 4.22% |
| 6 | State Bank of India INE062A01020 | 3.73% |
| 7 | Larsen & Toubro Limited INE018A01030 | 3.42% |
| 8 | Tata Consultancy Services Limited INE467B01029 | 3.25% |
| 9 | Kotak Mahindra Bank Ltd INE237A01036 | 3.03% |
| 10 | Axis Bank Limited INE238A01034 | 2.86% |
| 11 | Mahindra & Mahindra Limited INE101A01026 | 2.73% |
| 12 | Hindustan Unilever Limited INE030A01027 | 2.72% |
| 13 | Triparty Repo nan | 2.71% |
| 14 | NTPC Limited INE733E01010 | 2.67% |
| 15 | Bajaj Finserv Limited INE918I01026 | 2.42% |
| 16 | Eternal Limited INE758T01015 | 2.26% |
| 17 | Avenue Supermarts Limited INE192R01011 | 2.03% |
| 18 | Sun Pharmaceutical Industries Limited INE044A01036 | 1.96% |
| 19 | Tata Steel Limited INE081A01020 | 1.91% |
| 20 | Divi's Laboratories Limited INE361B01024 | 1.86% |
Sector Allocation
Top 10 sectors by % to NAV. Excludes derivatives.
Frequently Asked Questions
How many stocks does Mahindra Manulife Large Cap Fund hold?
Mahindra Manulife Large Cap Fund holds 42 stocks as per the latest AMFI portfolio disclosure. The top 5 positions account for 31.87% of NAV.
What is the largest holding in Mahindra Manulife Large Cap Fund?
The largest position in Mahindra Manulife Large Cap Fund is ICICI Bank Limited, accounting for 9.02% of NAV in the Banks sector.
Is Mahindra Manulife Large Cap Fund a concentrated or diversified fund?
With a Gini coefficient of 0.370, Mahindra Manulife Large Cap Fund is well-diversified. The HHI concentration index is 35,927 bps, which is above the 2500 bps threshold for high concentration. The top 5 holdings together make up 31.87% of the portfolio.
What is the market cap allocation of Mahindra Manulife Large Cap Fund?
Based on SEBI's AMFI classification, Mahindra Manulife Large Cap Fund's equity portfolio is split as: Large Cap: 87.50%, Mid Cap: 6.43%, Small Cap: 0.00%. This reflects the fund's positioning within the market cap spectrum.
Which sectors does Mahindra Manulife Large Cap Fund invest in most?
Mahindra Manulife Large Cap Fund has the highest allocation to Banks (28.02%), IT - Software (9.24%), Automobiles (6.58%). The fund is invested across 19 sectors in total.
How actively managed is Mahindra Manulife Large Cap Fund compared to other Large Cap Fund funds?
Mahindra Manulife Large Cap Fund has an Active Share of 38.06%, classifying it as "Balanced Approach" among 33 Large Cap Fund peers. This indicates a moderate level of differentiation from category peers.
What changed in Mahindra Manulife Large Cap Fund's portfolio in the latest month?
Between 2026-03-31 and 2026-04-30, Mahindra Manulife Large Cap Fund added 4 new stocks (including Eicher Motors Limited) and exited 2 stocks (including Hyundai Motor India Ltd). Total holding count increased from 41 to 44 stocks.